{"id":234830,"date":"2024-01-24T05:25:22","date_gmt":"2024-01-23T23:55:22","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=234830"},"modified":"2024-01-24T05:25:22","modified_gmt":"2024-01-23T23:55:22","slug":"eur-usd-tests-into-the-midrange-ahead-of-pmi-packed-wednesday-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eur-usd-tests-into-the-midrange-ahead-of-pmi-packed-wednesday-crypto-news\/","title":{"rendered":"EUR\/USD tests into the midrange ahead of PMI-packed Wednesday &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>EUR\/USD finds itself close to the 200-day SMA as investors brace for PMI figures.<\/strong><\/li>\n<li><strong>Wednesday sees preliminary PMI January data for both the EU and the US.<\/strong><\/li>\n<li><strong>Markets expect a European uptick but flattening US services.<\/strong><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/eurusd?\">EUR\/USD<\/a> drifts into a key midrange figure early Wednesday as European and US Purchasing Managers\u2019 Index (PMI) figures loom over the market for the mid-week trading session.<\/p>\n<p>Markets are broadly expecting pan-European HCOB Composite <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">PMI<\/a> figures to rebound in January from 47.6 to 48.0, which would represent an eighth straight month of sub-50.0 combined PMI activity for the European continent.<\/p>\n<p>On the US side, market forecasts are looking for the S&amp;P Global Manufacturing PMI component to hold steady at 47.9 while the Services PMI component is expected to tick down from 51.4 to 51.0.<\/p>\n<p>After PMIs are done landing on markets, Thursday brings another rate call and monetary policy statement from the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/ecb\">European Central Bank<\/a> (ECB), which has broadly forecast a lack of movement on interest rates until the summer months barring any drastic changes to underlying economic figures. Still, investors will be keeping a close eye on the ECB\u2019s policy statement for any clues about how deep into dovish or hawkish territory ECB President <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/eurusd\">Christine Lagarde<\/a> and her cohort of central bank policymakers are leaning following Wednesday\u2019s PMI activity expectation figures.<\/p>\n<p>Thursday also sees an update to US Gross Domestic Product (USD) on an annualized basis, with YoY GDP forecast to trim back to 2.0% from 4.9% for the year ended in December.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/USD Technical Outlook<\/h2>\n<p>The EUR\/USD saw a quick plunge into touch range of 1.0820 following a harsh rejection from the 200-hour Simple Moving Average (SMA) just above 1.0910, sending the major pair back below the 1.0900 handle for the third time in a week.<\/p>\n<p>Daily candlesticks show the EUR\/USD coiling tightly into the midrange as broad-market momentum tilts into the middle, and the pair is adrift on market tides in a congestion zone between the 50-day and 200-day SMAs near 1.0925 and 1.0850 respectively.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/USD Hourly Chart<\/h2>\n<h2 class=\"fxs_headline_medium\">EUR\/USD Daily Chart<img decoding=\"async\" alt=\"\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/EUR_USD-638416494899113315.png\" style=\"width: 898px;height: 697px\" \/><\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: EUR\/USD finds itself close to the 200-day SMA as investors brace for PMI figures. Wednesday sees preliminary PMI January data for both the EU and the US. Markets expect a European uptick but flattening US services. EUR\/USD drifts into a key midrange figure early Wednesday as European and US Purchasing Managers\u2019 Index (PMI) figures [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,825,433,255,250,252,1063,247,253,249,256,254],"class_list":["post-234830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-ecb","tag-eurusd","tag-gta","tag-looks-rare","tag-oracle","tag-pmi","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/234830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=234830"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/234830\/revisions"}],"predecessor-version":[{"id":234832,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/234830\/revisions\/234832"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8153"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=234830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=234830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=234830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}